Mowi ASA (OSE:MOWI): Q2 2025 Trading update

15 Jul 2025 06:30 CEST

Harvest volumes Q2 2025 (1)

Farming Norway 72.5 thousand tonnes

Farming Scotland 24.0 thousand tonnes

Farming Chile 15.5 thousand tonnes

Farming Canada 9.5 thousand tonnes

Farming Ireland 5.0 thousand tonnes

Farming Faroes 4.5 thousand tonnes

Farming Iceland (Arctic Fish) 2.0 thousand tonnes

Total 133.0 thousand tonnes

In connection with the presentation of the Q1 2025 results, Mowi guided a total
harvest volume of 130k GWT for Q2 2025 (110k GWT in Q2 2024).

Note:
(1) The harvest volumes are provided in gutted weight equivalents (GWT).

Additional information

Operational EBIT for the Group was approx. EUR 189 million in Q2 2025 (NOK
2,206 million / EURNOK 11.67) on strong cost performance. Blended farming cost
was EUR 5.39 per kg in the quarter, down from EUR 5.84 in Q2 2024 and EUR 5.89
in Q1 2025.

Total Q2 Operational EBIT per kg through the value chain was approximately as
follows:

Norway EUR 1.90

Scotland EUR 1.30

Chile EUR 1.15

Canada EUR 0.25

Ireland EUR 0.20

Faroes EUR 0.90

Iceland EUR (2.20) - Very low harvest volumes

Operational EBIT in Consumer Products was EUR 52 million. Operational EBITDA in
Feed was EUR 14 million in Q2 2025. Reported financial net interest-bearing debt
(NIBD) for the group was approximately EUR 1 895 million at the end of the
quarter (excluding IFRS 16 effects). The complete Q2 2025 report will be
released on 20 August at 06:30 CET.

Please refer to the Annual Report for detailed descriptions and reconciliations
of non-IFRS measures such as Operational EBIT and NIBD.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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